Top foreign and local stories at 3.45pm


  • Business
  • Tuesday, 22 Dec 2015

Energy

Brent crude was 0.17% higher to US$36.41 per barrel at 2.13pm.

Forex

Ringgit down 0.29% to 4.3070 versus the US dollar at 2.38pm.

Top foreign stories

Japan FM says govt to compile US$797b budget spending plan for FY16: Japanese Finance Minister Taro Aso said on Tuesday that the government will compile a draft budget for the next fiscal year that starts in April, with spending worth 96.7 trillion yen (US$797.53 billion). — Reuters

Australia approves coal port expansion near Barrier Reef: Australia on Tuesday approved a controversial port expansion to support mining projects and the dredging of 1.1 million cu m of spoil despite conservationists’ fears it threatens the Great Barrier Reef. The decision, creating a huge port capable of handling up to 120 million tonnes of coal per year, comes two months after the government approved an Indian-backed plan to build one of the world’s biggest mines in the same area of Queensland state. — AFP

Ford in talks with Google to build self-driving cars: Google is said to be in talks with Ford Motor Co to help build the Internet search company’s autonomous cars, Automotive News reported, citing a person with knowledge of the project. — Reuters

Australia cuts resource sector earnings as prices tumble: Australia slashed its price forecast for the country’s No. 1 export earner iron ore by nearly 20% on Tuesday, and warned that increased commodities production would only partly offset a collapse in prices. — Reuters

Fake medicine worth US$7m seized across Asia: Interpol seized counterfeit drugs worth US$7 million in September in an operation encompassing 13 Asian countries, the international police organisation said on Monday. — AFP

S. Korea central bank says households’ fiscal health has worsened: South Korea’s central bank said the fiscal health of the country’s household sector has worsened slightly as debt growth outpaced income growth in the second half of the year. — Reuters

Top local stories

SapKen Q3 earnings down nearly 63%: SapuraKencana Petroleum Bhd (SapKen)’s earnings fell 62.7% to RM129.85mil in the third quarter as it was impacted by the plunge in crude oil prices, forcing it to make allowances for impairments. It made a provision of impairment on investment of RM28.25mil and RM317.33mil for property, plant and equipment and O&G properties. Its revenue rose 19.9% to RM2.89bil thanks to its engineering and construction division. — StarBiz

Ajinomoto shares rebound on new shareholder news: Ajinomoto (Malaysia) Bhd shares rebounded on Tuesday on news US-based fund FMR LLC has emerged as a substantial shareholder. FMR acquired 3.04 million shares, or a 5%, stake in Ajinomoto on Dec 7. — StarBiz

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